The Israeli Defense Forces confirmed a strike on June 21 that killed two operatives responsible for managing one of Hamas’s largest known funding pipelines. Hussein Qadra and Mohammed Farra, linked to both Hamas and Islamic Jihad, were running a network that funneled over 500 million shekels, roughly $140M, directly to Hamas’s military wing.
The money moved through an old-school system of couriers and money exchangers operating primarily in Turkey and the Gaza Strip. No digital assets were involved. For an industry that spent years watching regulators weaponize Hamas’s Bitcoin solicitations as justification for tighter crypto oversight, that absence is worth paying attention to.
How the funding network operated
Funds passed through a web of couriers and exchangers spread across Turkey and Gaza. The money ultimately paid salaries for militants and financed various operations carried out by Hamas’s military wing.
This strike was not an isolated event. Earlier in June 2026, the IDF carried out additional targeted operations against other Hamas financial operatives using similar traditional methods.
